In a report released today, Chris Kotowski from Oppenheimer maintained a Buy rating on CM Finance (NASDAQ: CMFN), with a price target of $11. The company’s shares opened today at $9.30.
Kotowski said:
“CMFN hit a few big bumps in the road during the energy meltdown of 2015-16, but with this quarter’s results we can comfortably say that it appears to have emerged from the ordeal with some cuts and bruises, but no serious permanent injuries and now seems to be on a much better path. We say this not because of the big headline print of $0.62 in NII versus our $0.28 (which contained some unusual items that we’ll discuss), but because it covered the dividend out of operating NII for the third quarter in a row, has diversified its funding sources, doggedly fought through the resolution of problem credits to come to a satisfactory outcome and prospects are good for dividend coverage going forward.”
According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 11.3% and a 71.1% success rate. Kotowski covers the Financial sector, focusing on stocks such as Eagle Point Credit Company Inc, Great Elm Capital Corporation, and Fidus Investment Corporation.
The the analyst consensus on CM Finance is currently a Hold rating.
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CM Finance’s market cap is currently $128.7M and has a P/E ratio of 7.56. The company has a Price to Book ratio of 0.74.
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CM Finance, Inc. operates as a closed-end and non-diversified management investment company, which engages in business development. Its investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation through debt and related equity investments.
